Summarised financial information
Group – Statement of cash flows
For the year ended 31 December
Figures in million (US dollars) | 2014 | 2013 | 2012 |
---|---|---|---|
Cash flows from operating activities | |||
Receipts from customers | 5,351 | 5,709 | 6,523 |
Payments to suppliers and employees | (3,978) | (4,317) | (4,173) |
Cash generated from operations | 1,373 | 1,392 | 2,350 |
Dividends received from joint ventures | – | 18 | 72 |
Taxation refund | 41 | 23 | 54 |
Taxation paid | (194) | (187) | (507) |
Net cash inflow from operating activities | 1,220 | 1,246 | 1,969 |
Cash flows from investing activities |
|||
Capital expenditure | |||
– project capital | (289) | (594) | (779) |
– stay-in-business capital | (724) | (907) | (1,146) |
Interest capitalised and paid | (1) | (5) | (12) |
Expenditure on intangible assets | (5) | (68) | (79) |
Proceeds from disposal of tangible assets | 31 | 10 | 5 |
Other investments acquired | (79) | (91) | (97) |
Proceeds from disposal of other investments | 73 | 81 | 86 |
Investments in associates and joint ventures | (65) | (472) | (349) |
Proceeds from disposal of associates and joint ventures | – | 6 | 20 |
Loans advanced to associates and joint ventures | (56) | (41) | (65) |
Loans repaid by associates and joint ventures | 20 | 33 | 1 |
Dividends received | – | 5 | 7 |
Proceeds from disposal of subsidiary | 105 | 2 | 6 |
Cash in subsidiary acquired | – | – | 5 |
Cash in subsidiary disposed | – | – | (31) |
Cash balances in assets held for sale | 2 | (2) | – |
Acquisition of subsidiary and loan | – | – | (335) |
Decrease (increase) in cash restricted for use | 24 | (20) | (3) |
Interest received | 21 | 23 | 36 |
Loans advanced | – | – | (45) |
Net cash outflow from investing activities | (943) | (2,040) | (2,775) |
Cash flows from financing activities |
|||
Proceeds from issue of share capital | – | – | 2 |
Proceeds from borrowings | 611 | 2,344 | 1,432 |
Repayment of borrowings | (761) | (1,486) | (217) |
Finance costs paid | (245) | (200) | (145) |
Acquisition of non-controlling interest | – | – | (215) |
Revolving credit facility and bond transaction costs | (9) | (36) | (30) |
Dividends paid | (17) | (62) | (236) |
Net cash (outflow) inflow from financing activities | (421) | 560 | 591 |
Net decrease in cash and cash equivalents | (144) | (234) | (215) |
Translation | (16) | (30) | (5) |
Cash and cash equivalents at beginning of year | 628 | 892 | 1,112 |
Cash and cash equivalents at end of year(1) | 468 | 628 | 892 |
- (1) The cash and cash equivalents balance at 31 December 2013 includes a bank overdraft included in a statement of financial position as part of current liabilities of $20m.